As part of his plea of guilty, Colbert admitted that on the morning of November 18, 2011, he held up a gun, and fired a shot into the ceiling in the First State Bank in Albany.

Colbert then fired an additional shot at an Albany Police Department officer who was in the bank.

Colbert didn't get any money, and ran out of the bank, prompting a police chase. The case was investigated by the Federal Bureau of Investigation, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Albany Police Department.